Nucor cut at Morgan Stanley on reaching price target

AudeLagorce

LONDON (MarketWatch) -- Morgan Stanley cut steel producer Nucor Corp.
NUE, -1.69%
to equal-weight from overweight, citing the recent share performance. The broker told clients it believes steel industry fundamentals will weaken in early 2006, driven by a pickup in imports and that Nucor has reached its price target.

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